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PBOC Prioritises Boosting Credit, Especially SME Loans

CHINA PRESS
MNI (Singapore)

China’s monetary policy has ample space and diversified tools to push the economy back to a normal track with the priority to drive credit expansion to boost SME loans, the China Securities Journal reported citing analysts. The People’s Bank of China has doubled the amount of supporting tools for SME loans, and it is expected to provide as much as 2% of the incremental balance of SME loans to local banks, the newspaper said citing analysts. The central bank will maintain ample liquidity and not rule out further RRR cuts and expansion of re-lending and re-discount quotas, the newspaper said citing Gao Ruidong, chief macroeconomist of Everbright Securities.

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